Payment cards can be purchased by a first entity (the “card purchaser” or “load source”) for the benefit of a second entity (the “cardholder”) and loaded with a desired amount of money thereon. These cards are known as prepaid payment cards or prepaid cards. The card purchaser can then have the card mailed to cardholder.
Conventionally, these prepaid cards are mailed to the cardholders via a regular mail, such as through the U. S. Postal Service. However, if the cardholder changes his/her address, the mailed prepaid card may not reach the cardholder and instead may be returned by the Postal Service due to the old or invalid address. The prepaid card may be returned to sender—such as returned to the issuing bank, the credit card company, or some other entity associated with the credit card company.
As recognized by the present inventor, what is needed in one example is a method and system for handling of returned prepaid cards so as to facilitate re-mailing of the card to the cardholder at a new and valid address, or destroying the card and attempting to refund the monies to the card purchaser.
It is against this background that the various embodiments of the present invention were developed.